Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - CVB FINANCIAL CORP | v54064e8vk.htm |
| EX-2.1 - EX-2.1 - CVB FINANCIAL CORP | v54064exv2w1.htm |
Exhibit 99.1
CVB Financial Corp Announces Acquisition of San Joaquin Bank
| Press Release | |||
| Source: CVB Financial Corp. | |||
| On 9:21 pm EDT, Friday October 16, 2009 |
ONTARIO, Calif.—(BUSINESS WIRE)—CVB Financial Corp. (NASDAQ:CVBF — News) announced today its
wholly-owned subsidiary bank, Citizens Business Bank, entered an agreement with the Federal Deposit
Insurance Corporation (“FDICâ€□) to purchase most of the assets and assume most of the deposit
liabilities of San Joaquin Bank. (“agreementâ€□). The California Department of Financial
Institutions closed San Joaquin Bank today and appointed the FDIC as receiver. Thereafter, Citizens
Business Bank signed the agreement with FDIC.
“We are pleased to welcome all the accountholders of San Joaquin Bank to Citizens Business Bank
as valued customers. We will be working with San Joaquin Bank employees and the FDIC to ensure a
smooth transition of customer relationships to Citizens Business Bank,â€□ said Chris Myers,
President and Chief Executive Officer. “We are enthusiastic about the opportunity to grow our
presence in the Bakersfield area. Our superior customer service and financial products will blend
well with San Joaquin Bank’s service standards.â€□
Under the terms of the agreement, Citizens Business Bank will purchase most of the assets and
assume all deposits, with the exception of Cede & Co. brokered deposits, of San Joaquin Bank.
Citizens Business Bank is a $6.5 billion financial services company based in Ontario, California,
with 41 business financial centers and five commercial banking centers serving California. The
addition of the San Joaquin Bank will add five business financial centers for a total of six in the
Bakersfield area and 13 centers in the California Central Valley communities.
Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol of
CVBF. For investor information on CVB Financial Corp., visit our Citizens Business Bank website at
www.cbbank.com and click on the CVB Investor tab.
Safe Harbor
Contact:
CVB Financial Corp.
Christopher D. Myers, President and CEO
909-980-4030
Christopher D. Myers, President and CEO
909-980-4030